The contribution of Jed McCaleb in the blockchain industry is phenomenal. He is one of the industry early innovators who have played a critical in the development of the industry to date. His contributions in the early days of the blockchain industry led to the creation of the first centralized exchange which was known as Mt.Gox. This is an exchange that had great potential to change the industry were it not that it was hacked in 2014. However, at the time of its hacking, Jed McCaleb had already surrendered the management of the exchange to another person. He held a small stakeholding in the firm despite selling it. McCaleb sold the exchange because he wanted to tap into the potential of the blockchain industry an make even more innovations. Since then, he has been to various companies where his knowledge about the industry has been greatly improved.
The experience he has gathered from other industry players and his research has led to the creation of Stellar. Jed McCaleb is a co-founder of Stellar. It was created in 2014 so that it could address the challenges that are currently slowing down the cryptocurrencies industry. Many people are now looking for opportunities in the cryptocurrencies industry hoping that it will boom in future. Unfortunately, this can only happen if there is persistent research in the industry. Jed McCaleb is leading the innovations in the industry by working on a payment system that will be universally used. The payment system that Stellar is working on will lead to revolutionization of the banking industry. People will be able to pay through cryptocurrencies and recipient will get the money in the form of their choice.
Jed McCaleb is aiming at creating a platform that will even digitize the non-cryptoassets such as shares and stocks. In years to come, there will be a lot of applications of the blockchain technology in the financial sector. In fact, Jed McCaleb is predicting that everything could be controlled from the blockchain technology since it will incorporate every aspect of the financial industry. Blockchain industry is promising a decentralized system where the money will not be centrally controlled. With this technology, the current banking system will change to adopt the new measures.
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